preferred option, what i'm absolutely positive is right, i can't get done. and so then my question is does it make sense for me to tack a little bit this way or tack a little bit that way because i'm keeping my eye on the long term. and the long fight. not my day to day news cycle, but where am i going over the long term? >> rose: joining me in new york is ken rogoff, a professor of economics at harvard. from washington, d.c., al hunt, executive editor of bloomberg news. congressman anthony weiner, democrat from new york and congresswoman jan schakowsky, democrat from illinois. i am pleased to have all of them here. i begin with al hunt. why did the president do this? what does it sflept and what are the consequences, al? >> well, he did it because he felt he had no choice, charlie, because otherwise the tax cuts, he felt, were going to expire which could have been disastrous for the economy. i don't think there's any question that they should have cut some kind of a deal.